# 5 Ways to Get Extra $$$ from Your Employer

Side Hustles/Income

January 24, 2025

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Who doesn't love the idea of getting a little extra cash, especially if it comes straight from your employer? Many companies offer a variety of perks and benefits beyond just a paycheck. So let’s explore some strategies on how to make the most of these offerings and put a some extra cash in your pocket.

## 1. **Retirement Matches ~$3,000**

One of the most valuable benefits many employers provide is a retirement savings plan with a company match. Take full advantage of this opportunity by contributing enough to get the maximum match. It's essentially free money that grows over time, setting you up for a more comfortable future.

_Pro Tip:_ Consider increasing your contributions gradually, especially when you receive raises or bonuses. This way, you can effortlessly boost your retirement savings without feeling a significant impact on your paycheck.

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## 2. **Wellness Credits ~$400**

Health and wellness programs are becoming increasingly common in workplaces. These programs often come with various incentives, such as wellness credits, gym memberships, or even cash bonuses for achieving health-related goals. Participate actively to not only improve your well-being but also to enjoy the financial perks.

_Pro Tip:_ Look into the specific criteria for of your company’s wellness credits. If it’s a stipend and you don’t particularly need something wellness related- buy an Apple Watch or a Fitbit and return it later for some extra cash.

## 3. **Tuition Reimbursement ~$10,000**

If your employer offers tuition reimbursement, take advantage of this fantastic opportunity to invest in your education without draining your bank account. Whether you're pursuing a degree relevant to your current role or expanding your skill set, your employer may be willing to foot part or all of the bill.

_Pro Tip:_ Check with your HR department about the eligibility criteria and any conditions attached to tuition reimbursement. Make sure to maintain good academic standing if applicable.

## 4. **Employee Stock Purchase Plans (ESPP): Profiting from Company Success**

Some companies offer ESPPs, allowing employees to purchase company stock at a discounted rate. Take advantage of this program to invest in your company's success and potentially earn some extra money when the stock price rises.

_Pro Tip:_ Understand the terms of the ESPP, including the discount percentage and any holding period requirements. This can be a lucrative way to build wealth over time.

## 5. **Commuter Benefits ~$300**

Commuting can take a toll on your budget, but some employers offer valuable commuter benefits to ease the financial burden. Look into tax-free commuter benefits, where you can set aside pretax funds for qualified transit and parking expenses. For 2022, the IRS allowed taxpayers to exclude up to $280 a month from their taxable income for parking costs and up to $280 per month for highway transportation and transit passes.

_Pro Tip:_ Ask about other commuter benefits, such as company vanpools, stipends for biking to work or free passes for the bus or train.

## The Bottom Line - What’s Your True Salary?

Your employer likely provides more than just a paycheck, and by strategically leveraging these additional benefits, you can increase your overall compensation. Taking advantage of these perks can lead to a healthier financial future. So, don't leave money on the table—explore your employee benefits and start maximizing your earnings today! Who knows, maybe you have an extra $13,700 laying around there 👀